The Golden Visa in Spain in 2024
After 35 years as a lawyer here in Spain I of course have a history of advising clients that the law is the law. What I mean by this if there is no specific date for a new law to come into force here in Spain then we must apply the current law. It seems obvious but it´s something that we must bear in mind.
Once I have written an article on the Spanish Golden Visa I have cause to write another. I have seen reports that the amount for the visa will increase from 500,000 euros to 1,000,000 euros. This was according to á source´ who informed El Pais a Spanish newspaper.
First a bit of background if you are from a non-EU country, which includes the UK post Brexit, and you want the right for you and your family to live and work in Spain you can buy a house, land, parking space or commercial property for example or a combination providing that the total is more than 500,000 euros. You can then apply for the right as I have said for you and your family to live and work in Spain. it is not an automatic process and each application is considered by the Spanish authorities.
At the time of writing, there is nothing in the Spanish law the BOE which states that this has changed. Whether this will do so in the future is anyone´s guess.
If you’re buying as a couple and the price is less than 1,000,000 it´s advisable to put the property in one name. Be careful of capital gains tax being paid on the sale of your UK property in Spain. This is no substitute for advice from a Spanish Solicitor.
Of course, always take independent legal advice from your own lawyer like you would in the UK. For American readers there are realtors in Spain who aren’t regulated. Take the legal advice from a firm like Just Law Solicitors or someone similar but always get their bar registration number and ensure that they can represent you in court if things go wrong.
The 500,000 euro limit for buying property in Spain has been in force for some considerable. We are living in times of high inflation. For example, the average house price in the south east of England according to http://www.plumplot.co.uk is 467,000 pounds which is in excess of 500,000 euros so maybe a change is coming.
If you are thinking of moving to Spain and buying a property in Spain we can help. There are other visas available such as the non lucrative visa, NLV, the digital nomad visa, DNV and the autonomo or self employed visa. We have a specialist visa lawyer who can advise you as to which is the right visa for you. In addition we of course have specialist property lawyers and tax advisors and accountants. We´ve been advising clients here in Spain since 1992.
If you are moving to Spain and buying a Spanish home get in touch with us. We have offices in Malaga – Fuengirola & Marbella across Andalusia, we can also provide a full online service.
Marisa Moreno Castillo Senior Lawyer and Consul for Denmark.
Just Law Solicitors your lawyer in Spain